… He is also the world’s richest person, whose businesses include electric car company Tesla (TSLA.O), opens new tab and rocket and satellite company SpaceX (SPCX.O), opens new tab. …
A Texas woman is suing Tesla and a driver for at least $1m (£759,000) in damages after one of the electric vehicles crashed into her family home, killing her mother Jennifer Barbour filed her lawsuit in a local court on Tuesday, just days after her 76-year-old mother, Martha Avil …
… The reversal followed a sharp retreat in SpaceX and Tesla shares as technology stocks broadly tumbled, fuelled by growing doubts over the long-term profitability of artificial intelligence. …
… The post was shared by Elon Musk.” The tech tycoon, who also owns Tesla and SpaceX and has more than 240 million followers on X, has faced prior accusations of using his vast social media reach to inflame tensions or spread disinformation. …
… But his wealth took off that year as the value of his two biggest companies – electric carmaker Tesla and space exploration and AI firm SpaceX – began to grow sharply. …
… Still, SpaceX, the sprawling rocket, satellite and AI company that together with electric-car maker Tesla form the center of Musk’s empire, raised a record $75 billion in its initial public offering on Thursday, highlighting investor enthusiasm for his business ventures. …
… He noted that SpaceX was pricing itself compared to its sales at a ratio that is higher than any other major company included in what investors refer to as the “Mag 7” – Alphabet, Amazon, Apple, Meta, Nvidia, Microsoft and Tesla, another of Musk’s companies. …
A U.S. magistrate judge ordered Elon Musk to testify under oath in two class-action lawsuits accusing him of defrauding voters in swing states by promising a $1 million-a-day giveaway before the 2024 election. The judge also recommended that Musk and America PAC face a claim that they tricked voters into providing personal information, though a related breach-of-contract claim should be dismissed.
A U.S. magistrate judge ordered Elon Musk to testify under oath in two class-action lawsuits accusing him of defrauding voters in swing states by promising a $1 million-a-day giveaway before the 2024 election. The judge also recommended that Musk and America PAC face a claim that they tricked voters into providing personal information, though a related breach-of-contract claim should be dismissed.
A Texas woman is suing Tesla and a driver for at least $1m in damages after a Tesla Model 3 crashed into her family home, killing her 76-year-old mother. The lawsuit accuses Tesla of defective design and negligence, while Elon Musk and Tesla engineers disputed on social media that the autonomous driving technology was to blame.
Tech entrepreneur Elon Musk lost his trillionaire status on Tuesday, less than two weeks after becoming the first person to achieve it following SpaceX's public debut; his fortune fell to $957 billion from $1.11 trillion as SpaceX and Tesla shares retreated amid a broader technology stock downturn driven by concerns over artificial intelligence profitability.
The National Highway Traffic Safety Administration has opened a formal inquiry into a June 19 crash in Texas in which a Tesla Model 3 sped off the road into a house, killing a 76-year-old woman inside. The driver reported the vehicle was operating with an automated driving assistance system at the time.
German public broadcaster ZDF removed part of a report claiming Elon Musk called for migrants to be hunted in Northern Ireland, conceding the wording was "misleading." The report followed violence in Belfast triggered by a knife attack that prompted unrest and international attention.
Elon Musk achieved trillionaire status on Friday with an estimated net worth of about $1.11 trillion, according to Bloomberg, driven by a record-breaking SpaceX stock market debut and the rising value of his stakes in Tesla and SpaceX over the past six years.
SpaceX, owned by Elon Musk and private investors, has launched an initial public offering with shares trading on the stock market as of Friday, raising at least $75bn at $135 per share. The company, which operates in space exploration, satellite communication, and AI ventures, plans to use the capital to expand current activities and fund new ventures including asteroid mining, Mars colonisation, and space-based AI data centres.
SpaceX raised a record $75 billion in its initial public offering on Thursday. Following the share sale, Elon Musk's net worth surpassed $1 trillion, making him the world's first trillionaire.
The US Department of Defence has added major Chinese companies including e-commerce firm Alibaba and electric vehicle maker BYD to a list of firms with alleged ties to the Chinese military, raising tensions between Washington and Beijing. The inclusion is intended to alert American organisations to business risks but does not immediately impose sanctions.
Elon Musk's SpaceX has announced a suggested share price of $135 in advance of its planned initial public offering, valuing the company at approximately $1.75tn and aiming to raise $75bn—which would be a record for an IPO if achieved.
Elon Musk's SpaceX said its shares should go for $135 each in an SEC filing, setting its valuation at roughly $1.75tn as it approaches an initial public offering set for next week. The move is unusual, as companies typically only share an estimated share price the day before trading begins.
Ferrari unveiled its first electric vehicle, the Luce, designed by iPhone designer Sir Jony Ive, but the $640,000 five-seater car faced widespread criticism from investors, politicians, and internet users, with the firm's shares falling 8% after the launch and a former chairman warning it risks destroying the brand's legend.
SpaceX postponed its Starship rocket launch due to a malfunctioning hydraulic pin on the launch tower and plans another attempt on Friday. The delay comes as SpaceX prepares for a record-breaking stock market debut on Nasdaq, the largest IPO in Wall Street history, which could make Elon Musk the first-ever trillionaire.
The largest union at Samsung Electronics has suspended a planned strike after reaching a last-minute tentative pay agreement, easing concerns about disruption to the world's largest memory chipmaker. The dispute centred on how to distribute profits from soaring AI chip demand, with the union representing nearly 48,000 workers securing changes to bonus distribution between memory chip divisions and other units.
Elon Musk's SpaceX has announced plans to go public on the US stock market under the ticker SPCX, in what could be the largest IPO in Wall Street history. The filing reveals SpaceX had $18.6bn in revenue last year but a net loss of $4.9bn, and with Musk's majority stake, the IPO could push his net worth above $1 trillion.
Elon Musk has lost or settled multiple lawsuits recently, including a Monday loss against OpenAI and Sam Altman, settlements with former Twitter/X executives and employees, a case brought by Twitter investors, and a lawsuit against advertisers. A law professor suggests his deep financial resources may allow him to continue aggressive litigation despite the losses.
US President Trump visited Beijing with a business delegation and said he struck "fantastic trade deals" with Chinese leader Xi Jinping, though the two-day summit produced warm rhetoric more than concrete agreements. Trump said China agreed to order 200 Boeing planes, but Beijing did not confirm major purchases.
US President Donald Trump and Chinese President Xi Jinping held talks for over two hours in Beijing, with the White House calling the meeting "highly productive," though no sweeping trade breakthrough or major business agreements emerged. Xi warned that if US-China relations are mishandled, the two nations could collide or come into conflict.
US President Donald Trump has arrived in Beijing for a two-day summit with Chinese President Xi Jinping, where discussions are expected to cover tariffs, technology competition, the war in Iran, and America's relationship with Taiwan. Trump was greeted by Chinese Vice-President Han Zheng and accompanied by US tech industry executives including Elon Musk, Jensen Huang, Tim Cook, Larry Fink, and Kelly Ortberg.
Sam Altman, CEO of OpenAI, testified in a federal jury trial that Elon Musk tried to gain control of the AI company and suggested it could pass to his children upon his death. Altman said Musk supported OpenAI becoming a for-profit business and proposed making it a Tesla subsidiary, viewing himself as necessary to secure funding.
US President Donald Trump is expected to bring 17 top business and technology executives on his trip to China this week, including Tim Cook of Apple, Elon Musk of Tesla and SpaceX, and Larry Fink of BlackRock. The trip will include Trump's meeting with President Xi Jinping amid growing economic and technological tensions between the two countries.
Shivon Zilis, a former OpenAI board member who worked across Musk's companies, testified in federal court in Oakland as a key witness in Musk's lawsuit seeking to reverse OpenAI's conversion to a for-profit company. She discussed her involvement in early talks about the company becoming for-profit and her work with Musk.
California's Department of Motor Vehicles has announced new regulations allowing police to issue citations directly to autonomous vehicle manufacturers when their vehicles violate traffic laws. The rules, effective 1 July, require AV companies to respond to police and emergency calls within 30 seconds and impose penalties for vehicles entering active emergency zones.
Elon Musk gave combative testimony on his second day on the stand in his lawsuit against OpenAI co-founder Sam Altman and the company, alleging they misled him by shifting away from a non-profit model toward for-profit. Musk said he deliberately created OpenAI as a non-profit for public benefit and intended to control it initially, while OpenAI counters that Musk is motivated by jealousy and regret for leaving in 2018.
A trial pitting OpenAI founders Sam Altman and Elon Musk against each other opened in California, with Musk claiming the company has looted a charity and breached its nonprofit obligations, while OpenAI's lawyers argued Musk is motivated by competition and seeking to harm the company.
Anta, a Chinese sportswear company founded in the late 1980s by Ding Shizhong, has grown into a powerhouse that owns multiple international brands including Arc'teryx and Salomon, holds a stake in Puma, and aims to compete with Nike and Adidas. The company has more than 10,000 shops in China, sponsors athletes including freestyle skier Eileen Gu, and recently opened its first US outlet, a flagship store in Beverly Hills, Los Angeles.